Tokio Marine Asset Management Co. Ltd. Sells 358 Shares of PulteGroup, Inc. (NYSE:PHM)

Tokio Marine Asset Management Co. Ltd. lessened its position in PulteGroup, Inc. (NYSE:PHM) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,776 shares of the construction company’s stock after selling 358 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in PulteGroup were worth $803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aprio Wealth Management LLC lifted its stake in shares of PulteGroup by 3.1% in the fourth quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock worth $370,000 after buying an additional 107 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in PulteGroup by 4.1% during the fourth quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock valued at $320,000 after purchasing an additional 121 shares during the period. DNB Asset Management AS lifted its position in PulteGroup by 0.3% during the fourth quarter. DNB Asset Management AS now owns 43,391 shares of the construction company’s stock valued at $4,479,000 after purchasing an additional 123 shares during the period. Cascade Investment Advisors Inc. lifted its position in PulteGroup by 1.6% during the fourth quarter. Cascade Investment Advisors Inc. now owns 8,165 shares of the construction company’s stock valued at $843,000 after purchasing an additional 125 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its position in PulteGroup by 9.2% during the third quarter. Sugarloaf Wealth Management LLC now owns 1,695 shares of the construction company’s stock valued at $126,000 after purchasing an additional 143 shares during the period. Institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Oppenheimer upped their target price on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. The Goldman Sachs Group upped their target price on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Jefferies Financial Group upped their target price on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Raymond James reissued an “outperform” rating and issued a $135.00 price objective (up from $120.00) on shares of PulteGroup in a research note on Thursday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.73.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is currently owned by insiders.

PulteGroup Price Performance

PulteGroup stock opened at $113.74 on Friday. The firm has a 50-day moving average price of $111.28 and a 200-day moving average price of $99.42. The firm has a market capitalization of $23.92 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a 12-month low of $64.70 and a 12-month high of $121.07.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.07. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the business earned $3.63 EPS. As a group, equities research analysts forecast that PulteGroup, Inc. will post 12.28 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.70%. The ex-dividend date was Thursday, March 14th. PulteGroup’s dividend payout ratio is presently 6.41%.

PulteGroup declared that its board has approved a stock buyback program on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.